Statistics show that the north-west is still the best place to invest in property in the UK – in terms of rental yield. If you’re seeking buy-to-let property for sale and want a house that offers a solid income against your investment, read this handy guide to find out where to buy.
Manchester – Top of the List
Although investment properties in London are more likely to enjoy good capital growth, Manchester is the best place for high rental yield, according to most recent figures.
When taking into account average monthly rent and working it out as a percentage against the house’s current property value, Manchester produced an average rental yield of 6.02% – the highest in the country. It’s unsurprising that the city is popular with tenants – it has a thriving cultural scene; plus the bohemian North Quarter, The Trafford Centre (a huge shopping mall) and of course, two major football teams.
Liverpool – Second Place
If you’re searching for property investment opportunities, Liverpool is also a great place to consider. With average rental yields of 5.16%, it’s only a little lower than Manchester, and it’s also incredibly popular with renters. Thanks to the university, here are plenty of students in the area; and people are also attracted by the city’s rich culture, not to mention the newly regenerated Albert Docks.
In particular, it’s worthwhile focusing on the city’s L1 postcode area; which is still very affordable, but has experienced considerable growth in prices. It’s a great place to look if you want to enjoy capital growth as well as rental income.
Sheffield – Eye on the Future
Savvy property investors are keeping an eye firmly on Sheffield, which is predicted to generate increased rental yield over the next few years. This is largely due to its growing importance as a technological hub – and it’s now the 9th largest tech centre in the country.
Although not all areas of Sheffield generate as much returns as Manchester and Liverpool, if you focus your search on the S1 postcode, it’s possible to find a buy-to-let property for sale for around £70,000, generating a formidable rental yield of 11%.
Where for Capital Growth?
If you’re more focused on long-term capital growth, it’s worthwhile focusing your search in the south, where property prices tend to rise more quickly. Towns within the ‘commuter belt’ of the capital are particularly profitable at present; especially those due to be connected by the new Crossrail service. However, be prepared to pay higher prices than the north, particularly if you’re searching for investment properties in London.
Also, bear in mind that many northern cities, such as Manchester, Liverpool and Sheffield, are predicted to experience considerable growth in the future. It’s worthwhile keeping up-to-date with the property market, in order to make an informed decision about where to search for investment properties for sale.
The Buy2Let Shop in Bromley
If you’re looking for investment properties in London or anywhere else in the country, talk to The Buy2Let Shop. We’re specialist property investment agents, and we’re here to help you find the right house for your requirements.
We also offer assistance with house auctions, and hold regular property seminars, which extend your knowledge of the current property market. To find out more, simply visit The Buy2Let Shop’s website today.